Flashcoin Cryptocurrency Review

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Flashcoin is a powerful fast Cryptocurrency introduced in 2016 dedicated to solving common consumer concerns facing the loyalty, e-commerce and businesses transacting small payments. FLASH has its roots based on Litecoin which was forked from Bitcoin. The Currency at the time of writing has a market capitalization of over $43 Million (1/26/2018) with a lot of room for growth.

 

Objectives

  • Low Fees as $0.01 cost per transaction
  • Quick Transactions – 5 seconds
  • Facilitate small, micropayments and e-commerce
  • low inflation
  • no “developer slush fund”

How does Flashcoin Work?

Flashcoin is engineered to be the number one option for Payments, whether large or small. The cryptocurrency uses a Proof of Work algorithm as bitcoin does. The Major difference being the speed of transactions and the low fees.

Community, Creators and Developers?

The Project was created with the aim to solve the major pains of high fees and long transaction times faced by Bitcoin and the remittance/finance world in general.

The project is very transparent with very frequent updates via social channels. Anyone can have contact with Team/Developer Discord and/or via their various channels to ask questions.

Distribution

The Total supply of Flashcoins is 900,000,000 FLASH which is more than bitcoins 21 million supply. No new FLASH coins will be created. all FLASH coins have been distributed among the cryptocurrencies Users and Developers.

Mining

In order to mine FLASH, one needs a mining node via holding 10 Million flash coins. Flashcoin currently doesn’t have a mining reward system, however, trusted nodes both verify and create new blocks.  The expressed aim of not having a mining reward is to keep the fees low.

FLASH hopes to move to a Delegated Proof of Word (DPoW) Model along with GOV nodes. Gov Nodes determine via consensus the direction of FLASH inclusive of its mining rewards. in order to have a GOV node, a user only needs at least 1 million FLASH coins.

Gov nodes are their testing phase and are should be released to the Flashcoin testnet sometime within the Q1 of 2018. The cryptocurrency will not only maintain its performance with the upgrade but become truly decentralized.

Wallets

The cryptocurrencies support a widest possibly Operating Systems inside of Windows, MacOs, Ubuntu and Linux.

Exchanges

  • Cryptopia
  • Cryptobridge
  • Coinexchange.io

External Links

Whitepaper: English | Spanish
Website: https://www.flashcoin.io/
Discord: https://discord.gg/2nFmMqA
Telegram: https://t.me/flashcoin_io
Facebook: https://www.facebook.com/FlashCoin-1800026016723751
Twitter: https://twitter.com/flashcoins
Reddit: https://www.reddit.com/r/flashcoin/
BitcoinTalk.org:  https://bitcointalk.org/index.php?topic=1605453.0
GitHub: https://github.com/flashcoin-io/

Conclusion

The cryptocurrency aims to solve major bottlenecks in the way of having cryptocurrencies move beyond their utility as Assets and/or store of value.

Flashcoin is set to make major updates to its branding, website and blockchain going forward. Feel free to leave your opinion in the comments about what you think of Flashcoin? Can this currency compete against Bitcoin?

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